Other Real Estate Owned

3 Months Ended

Mar. 31, 2019

Foreclosed and Repossessed Assets

Park typically transfers a loan to other real estate owned ("OREO") at the time that Park takes deed/title to the asset. The carrying amounts of foreclosed properties held at March 31, 2019 and December 31, 2018 are listed below, as well as the recorded investment of loans secured by residential real estate properties for which formal foreclosure proceedings were in process at those dates.



(in thousands)	March 31, 2019		December 31, 2018
OREO:
Commercial real estate	$	2,539	$	2,359
Construction real estate	1,107		1,108
Residential real estate	983		836
Total OREO	$	4,629	$	4,303

Loans in process of foreclosure:
Residential real estate	$	2,789	$	2,346

- Definition

The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned.

+ References + Details